Hawaii hotels post record revenue through first half of 2012

Hawaii’s hotel industry enjoyed a record-breaking first half of 2012, with statewide room revenue up 14.8% over the same period last year to a total of $1.59 billion, eclipsing the destination’s previous midyear peak set back in 2006.

Through June, statewide hotel occupancy was 77.1%, up 4.6 percentage points year over year, while the average daily room rate (ADR) for Hawaii climbed 7% to $201.32, according to a report released by Hospitality Advisors and Smith Travel Research Aug. 1.

And revenue per available room (RevPAR) increased nearly $19 a night across the Islands, to $155.22.

“The recovery for Hawaii’s tourism industry definitely accelerated during the first half of 2012,” Joseph Toy, president and CEO of Hospitality Advisors, said in a statement. “The exceptional high occupancy rates on Oahu, and in particular Waikiki, has created better yield management opportunities to recover the double-digit discounts of just three years ago.”

Waikiki was breaking its own records in June, seeing ADR climb 10.5% year over year to an all-time high for the month of $179.52. The market’s RevPAR figure, which surged 17.8% to $155.82, was also a new peak for June, while its occupancy rate of 86.8% was the second highest during the month, behind only June 2005.

The state’s highest ADRs, however, were posted in Maui’s Wailea market, where rates were up a little over $3 year over year to $378.18 in June. Occupancy there climbed 6.9 percentage points, to 73.7%.

“The recovery still remains uneven as the Big Island continues to lag behind the rest of the market,” Toy cautioned, pointing to Hawaii Island’s 62.7% occupancy rate through June of this year. “Still, the remainder of 2012 looks very positive and will hopefully provide the momentum needed for a strong first quarter of 2013.”

Across the U.S., Hawaii’s statewide ADR and RevPAR figures trailed only New York City (ADR of $231.27 and RevPAR $185.05) through June of this year.

Hawaii’s midyear occupancy rate was fourth best nationally, behind San Francisco (77.8%), Miami (79.2%) and New York (80%).